Jobless Rate 5.5% in October

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CBJ — Figures released by Statistics Canada indicate that employment was essentially flat for the month of October with the national unemployment rate holding steady at 5.5%.

The number of people working in Canada edged lower in October as the manufacturing and construction sectors lost jobs, but it was offset by gains in other industries as a means of holding the overall rate the same.

Canada’s economy lost 1,800 jobs last month, following gains of 54,000 jobs in September and 81,000 in August.

The number of full-time jobs fell by 16,100, offset in part by a gain of 14,300 part-time jobs.

Late last month Bank of Canada Governor Stephen Poloz announced the central bank was keeping its overnight trendsetting rate at 1.75% with inflation in and around the ideal 2% level.

Jobless rates by province in October – lowest to highest (numbers from September in brackets)

  • British Columbia 4.7% (4.8)
  • Quebec 5.0 (4.8)
  • Saskatchewan 5.1 (5.3)
  • Manitoba 5.3 (5.0)
  • Ontario 5.3 (5.3)
  • Alberta 6.7 (6.6)
  • Nova Scotia 8.0 (7.2)
  • New Brunswick 8.1 (8.3)
  • Prince Edward Island 8.4 (8.8)
  • Newfoundland and Labrador 11.1 (11.5)

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